Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion. The lower timeframe structure favored the bears XRP bulls can exercise caution and patience XRP saw red on the price charts once again after falling beneath an important level of support on Saturday. This […]
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.saw red on the price charts once again after falling beneath an important level of support on Saturday. This could pave the way for further losses. Although the longer-term price action saw the asset trade within a range over the past four months, lower timeframe momentum could swing in favor of the sellers.
XRP has traded within a range from $0.33 to $0.415 since November. The mid-range mark sat at $0.37 and served as support in late February. Eventually, a daily session closed beneath this level, signifying a flip from support to resistance. The trading volume has been steady but the OBV showed that neither buyers nor sellers have had the upper hand since mid-February. This, in contrast to the strong uptrend on the OBV in early January. Since the price traded within a range, no strong long-term trend was expected until a breakout past either extreme.
In the meantime, the fall beneath the mid-range highlighted further losses were likely. Moreover, the RSI also dropped below the neutral-50 mark to indicate bearish momentum.A bullish order block resided in the $0.36-$0.375 area, but XRP has already ventured under this zone in recent weeks. Therefore, a move to the range lows can be expected.The 30-day MVRV ratio noted that short-term holders were not profiting over the past month.
The significant drop in the mean coin age metric highlighted a large number of tokens were transferred within addresses and could presage another nuke on the price charts. The funding rate remained positive, but buyers can look to remain cautious. The 180-day dormant circulation remained relatively flat – A sign that longer-term holders have not been active lately.Subscribe to get it daily in your inbox.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
XRPL community remains divided on the proposal to raise transaction feesThe Ripple XRP community is engaged in a heated debate over a proposal to raise transaction fees on the XRP Ledger. Ripple CTO stated he did not want the network to lose its competitive advantage as a low-cost, high-speed transaction blockchain. The Ripple XRP community on Twitter has been engaged in a heated debate over […]
Lire la suite »
10-year-old B.C. girl may be world's youngest certified axe-throwing judgeAxe-throwing isn't typically thought of as a kids' sport, but Maddy Mathe isn't a typical kid.
Lire la suite »
Suicide bombing in southwestern Pakistan kills 10 policemenA suicide bomber riding on a motorcycle rammed into a police truck in Pakistan's restive southwest, killing at least 10 policemen and wounding 12 officers in one of the deadliest attacks on security forces in recent months, authorities said.
Lire la suite »
Cargojet reports Q4 profit down from year earlier, revenue up more than 10% - BNN BloombergCargojet Inc. reported its fourth-quarter profit fell compared with a year earlier as its revenue rose by more than 10 per cent.
Lire la suite »
CRA investigating or firing 10 employees who received CERB benefits though employedThe Canada Revenue Agency has fired or is investigating 10 employees who claimed CERB benefits despite being employed by the tax agency.
Lire la suite »